Life Insurance is a must for every one. Life Insurance Corporation of India is the largest Life Insurance Company in terms of Policy holders and #1 in term of Claim settlement. Many people realize the need for Life insurance until it is too late. Planning early would help the policy holder to insure, save for future and tax exemption under 80C. Insurance plan should be opted at young age as it would mature at early stages of life so the benefits would also come early.
Life Insurance Policy
You may want to have Insurance cover if you know that you are the only source of income for your family. There could be several reasons for you to get a life cover. Your loan/ mortgage payments, your wife/ spouse and children, your business, etc. These are some reasons why people opt for life Life cover. Unless you have a valid reason to insure your life, don't do so.It is important to know that a Insurance policy will simply ensure your family spend their lives in relative comfort. You will have to define your objectives before you go for a life cover cover.
On all LIC plans,Tax exemptions are subject to Income Tax rules amended from time to time by Government of India under Income Tax Act.,